The Blackstone Group Inc. (NYSE:BX) entered in an definitive agreement to acquire Entertainment One Music from Entertainment One Ltd. for approximately $390 million on April 25, 2021. As part of the transaction, Entertainment One Canada Limited will sell the Canadian music division. Subsequent to the closing of the transaction, eOne Music will operate as a separate business unit headed by its current Global President, music industry veteran Chris Taylor, and will focus on building a creator-first music brand with global scale and expertise. Hasbro intends to use its net proceeds from the sale to accelerate deleveraging and other general corporate purposes. The transaction is subject to customary closing conditions and receipt of regulatory approvals. The transaction has been approved by the Board of Directors of Hasbro and Entertainment One Canada Limited. The transaction is expected to close in the second or third quarter of 2021. J.P. Morgan is acting as financial advisor to Hasbro, Inc. parent of Entertainment One Ltd. Allison M. Wein, Michael S. Goldman, Craig F. Arcella , Andrew W. Needham, Margaret T. Segall, Jesse M. Weiss, David J. Kappos, Matthew J. Bobby, Matthew Morreale, and Brian M. Budnick of Cravath, Swaine & Moore LLP, Mayer Brown International LLP and Stikeman Elliott LLP are acting as legal counsel to Hasbro, Inc. and Osler, Hoskin & Harcourt LLP are acting as legal counsel to Entertainment One Canada Limited.

The Blackstone Group Inc. (NYSE:BX) completed the acquisition of Entertainment One Music from Entertainment One Ltd. on June 29, 2021.